'Any deal between private agents does not involve the state'

As private banks were still trying to reach an agreement with the holdouts, Cabinet Chief Jorge Capitanich highlighted that any deal between the two parties “does not involve the state” and stressed the importance to avoid triggering the Rights Upon Future Offers (RUFO) clause.

“As long as there is no link with the State, any company, group of companies, banks or group of banks can make whatever decision they wish to make,” Capitanich said and explained that the State cannot be involved in any way, to prevent triggering the RUFO clause.

“Any deal reached among privates does not involve the State,” the Kirchnerite official stated in his daily press briefing at government house. “There are negotiations outside of the official channels”.

“It is necessary to preserve the autonomy of the State in the talks to avoid creating any colateral effect,” he said.